Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.010%

Price spread now: Phemex against Popdex+0.043%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1021.023% of the position

Long on Popdex Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.047%−$5 on $10k

Price spread, last 4 days (all we have)−0.341%−$34 · spread now +0.043%, 7d avg −0.001%

Together, before fees−0.389%−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.045% dearer against Popdex than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.001%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex SKHYUSDT	184.80	0.0048	pay 0.0006% / 1h	19m 42s	$199K	$295K	20x
Short	Phemex SKHYUSDT	184.88	0	get 0.0000% / 8h	7h 19m	$1.5M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Popdex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PopdexbpFee PhemexbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$10.08
Price spread: +0.043% → −0.001%: $4.47
Slippage, 4 orders: −$83.9
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$107.91
Costs to cover: 1.023%
Break-even: never at this rate

Slippage from Popdex: live order book, 14 min ago; Phemex: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Popdex live order book, 14 min ago	0.81 bp	5.2 bp −$5	10.9 bp −$109	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	3.79 bp	47.5 bp −$47	doesn't fit	doesn't fit	doesn't fit

SKHY on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKHYUSDT	−0.1152%	8h	185.07	+0.146%	$25.5M	$35.2M	20x	as long as short
KuCoin SKHYUSDTM	−0.0246%	8h	184.74	−0.032%	$1.1M	$376K	20x	as long as short
edgeX SKHYUSDC	−0.0224%	4h	184.38	−0.225%	$556K	$290K	10x	as long as short
GRVT SKHY_USDT_Perp	−0.0198%	8h	184.46	−0.184%	$22K	$246K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0051%	1h	184.92	+0.065%	$156.7M	$78.0M	10x	as long as short
Extended SKHY-USD	−0.0048%	1h	184.82	+0.010%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	−0.0041%	8h	184.95	+0.081%	$196.1M	$465.0M	50x	as long as short
Nado SKHY-PERP	−0.0032%	1h	184.88	+0.043%	$32K	$28K	10x	as long as short
QFEX SKHY-USD	−0.0028%	1h	184.84	+0.022%	$1.2M	$4.3M	10x	as long as short
Variational Omni SKHY	−0.0022%	8h	184.84	+0.021%	$1.6M	$1.0M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SKHYUSDT	0.0000%	8h	184.71	−0.048%	$265K	$951K	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	184.96	+0.087%	$16.0M	$33.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	184.92	+0.065%	$43.8M	$81.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	184.96	+0.087%	$25.5M	$21.8M	75x	as long as short
SunX SKHY-USDT	0.0000%	8h	185.08	+0.152%	$677	$5.9M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	184.94	+0.076%	$47K	$354K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	184.72	−0.043%	$153K	$375K	50x	as long as short
Phemex SKHYUSDTshort	0.0000%	8h	184.88	+0.043%	$1.5M	$1.1M	10x
Coinbase International SKHY-PERP-INTX	+0.0024%	1h	183.79	−0.547%	$66K	$750K	10x	as long as short
Lighter SKHY	+0.0032%	1h	184.94	+0.076%	$983K	$1.3M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	184.88	+0.043%	$1.1M	$1.5M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0039%	1h	184.81	+0.005%	$510K	$2.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	184.70	−0.054%	$59K	$173K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	184.74	−0.032%	—	$38K	10x	as long as short
Popdex SKHYUSDTlong	+0.0048%	1h	184.80	long leg	$199K	$295K	20x
Polymarket Perps SKHY-USD	+0.0050%	1h	184.75	−0.027%	$179K	$451K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	184.76	−0.022%	$41K	$12K	10x	as long as short
BloFin SKHY-USDT	+0.0067%	8h	184.83	+0.016%	$2.1M	$446K	50x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	184.76	−0.022%	$2K	$4K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0171%	1h	184.94	+0.078%	$48K	$20K	20x	as long as short
Phoenix SKHY	+0.0215%	1h	184.57	−0.124%	$207K	$123K	10x	as long as short